According to data given by the Centre for Monitoring Indian Economy (CMIE)., 8.8 million individuals joined the country’s working in April, one of the highest increases in the labour market since the outbreak began.
However, it stated that the positions that were available were insufficient in comparison to the need. As per CMIE Managing Director and CEO Mahesh Vyas, India’s labour force surged by 8.8 million to 437.2 million in April, one of the greatest monthly rises since the epidemic began.
In March, the country’s labour force was 428.4 million people, he noted.
According to statistics, the monthly average increase in the country’s labour force in 2021-22 was 0.2 million.
As per the analysis, an 8.8 million increase in labour force participation could only be achieved if some working-age persons who were unemployed joined the labour force in April.
This is because the working-age population cannot expand by more than two million people every month, and any increase over that means that individuals who were unemployed returned to the labour force, according to the research.
It’s worth noting that the 8.8 million gain in April comes after a 12 million drop in the previous three months, according to the report.
According to Vyas, the labour market is dynamic, with workers coming and going based on demand at any given time.
In April, employment increased in both industry and services. As per the figures, the industry generated 5.5 million jobs, while services added another 6.7 million.
Within the industry, manufacturing gained 3 million jobs, while construction added over 4 million.